Argentina officially refuses to join BRICS
In a major reversal of its foreign policy, Argentina has officially withdrawn from the BRICS expansion plan, with President Javier Milei fulfilling his campaign promise to refuse to join the alliance of major emerging economies.
The decision was announced in a letter sent by President Milei to the leaders of the BRICS countries, stating that now was not the “right time” for Argentina to become a full member of the alliance. The BRICS countries – Brazil, Russia, India, China, and South Africa – are also members of the G20, which recently announced plans to admit six new members, including Argentina.
Milei, a far-right president who defeated traditional parties in the presidential election, has expressed his geopolitical orientation to align with the United States and Israel, stating that Argentina will not ally with communist countries. Despite his previous disparagement of “communist” countries, Milei has adopted a softer stance since taking office.
The decision to withdraw from the BRICS expansion plan marks a departure from the foreign policy of Milei’s predecessor, Alberto Fernandez, who had favored Argentina’s membership in the alliance as a means of opening up new markets. Milei, an “anarcho-capitalist,” has implemented measures to deregulate the economy, emphasizing the need for austerity and shock therapy to address the country’s financial challenges.
The decision to withdraw from the BRICS expansion plan has significant implications for Argentina’s foreign relations and economic trajectory, as the country seeks to redefine its geopolitical stance and economic policies under Milei’s leadership.